WP Advisors LLC Trims Stock Position in Netflix, Inc. (NASDAQ:NFLX)

Key Points

• WP Advisors LLC reduced its holdings in Netflix by 4.6%, owning 10,505 shares valued at approximately $9.8 million.
• Several institutional investors increased their positions in Netflix, with Resurgent Financial Advisors boosting its holdings by 234.4% in the first quarter.
• Analysts have varying opinions on Netflix, with a consensus rating of "Moderate Buy" and a price target averaging around $1,297.66.

WP Advisors LLC decreased its holdings in Netflix, Inc. (NASDAQ:NFLX - Free Report) by 4.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,505 shares of the Internet television network's stock after selling 501 shares during the quarter. Netflix makes up 3.3% of WP Advisors LLC's investment portfolio, making the stock its 7th biggest holding. WP Advisors LLC's holdings in Netflix were worth $9,796,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Resurgent Financial Advisors LLC lifted its holdings in Netflix by 234.4% in the first quarter. Resurgent Financial Advisors LLC now owns 1,010 shares of the Internet television network's stock valued at $942,000 after buying an additional 708 shares during the period. Janus Henderson Group PLC lifted its holdings in Netflix by 8.7% in the fourth quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network's stock valued at $1,227,468,000 after buying an additional 110,432 shares during the period. PharVision Advisers LLC acquired a new position in Netflix in the fourth quarter valued at $873,000. New England Research & Management Inc. lifted its holdings in Netflix by 148.5% in the first quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock valued at $1,979,000 after buying an additional 1,268 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Netflix by 6.1% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,638 shares of the Internet television network's stock valued at $50,952,000 after buying an additional 3,137 shares during the period. Institutional investors own 80.93% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on NFLX. Piper Sandler boosted their target price on shares of Netflix from $1,400.00 to $1,500.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Bank of America boosted their target price on shares of Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a report on Friday, May 30th. Jefferies Financial Group set a $1,500.00 price objective on shares of Netflix and gave the stock a "buy" rating in a research report on Friday, July 18th. Wolfe Research set a $1,340.00 target price on Netflix and gave the company an "outperform" rating in a research report on Friday, May 16th. Finally, Phillip Securities downgraded Netflix from a "hold" rating to a "strong sell" rating in a research note on Monday, July 21st. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,297.66.

Netflix Price Performance

Shares of Netflix stock opened at $1,211.64 on Monday. The firm has a market cap of $514.86 billion, a PE ratio of 51.63, a price-to-earnings-growth ratio of 2.04 and a beta of 1.59. Netflix, Inc. has a 12-month low of $622.99 and a 12-month high of $1,341.15. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The company's fifty day simple moving average is $1,232.25 and its two-hundred day simple moving average is $1,095.21.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.07 by $0.12. The business had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The company's revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the firm earned $4.88 EPS. As a group, equities analysts expect that Netflix, Inc. will post 24.58 EPS for the current year.

Insider Activity

In other news, CFO Spencer Adam Neumann sold 685 shares of Netflix stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $1,161.21, for a total transaction of $795,428.85. Following the sale, the chief financial officer owned 3,691 shares of the company's stock, valued at approximately $4,286,026.11. The trade was a 15.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David A. Hyman sold 424 shares of Netflix stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $1,158.67, for a total transaction of $491,276.08. Following the sale, the insider directly owned 31,610 shares in the company, valued at $36,625,558.70. The trade was a 1.32% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,307 shares of company stock worth $179,443,809. 1.37% of the stock is owned by company insiders.

Netflix Company Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.

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